Posted 1/10/2024, 10:15:00 AM
Microgrid Market Set to Surge to $55 Billion by 2032 on Lower Costs and Climate Resilience Demand
- Market for microgrids expected to reach $55.3 billion by 2032, with 18% CAGR from 2023-2032
- Asia Pacific leading in terms of total microgrid spending
- Declining costs of distributed energy resources (DERs) like energy storage driving growth
- Innovative financing mechanisms enabling microgrid adoption
- Resilience, decarbonization, automation trends creating demand for microgrids